New Issue: SLF FixedReset 6.00%+379

Hard on the heels of their 1Q09 Results, Sun Life Financial has brought out a new issue.

Issue: Class A Non-Cumulative 5-Year Rate Reset Preferred Shares, Series 6R

Size: 8-million shares (=$200-million) + 2-million greenshoe (=$50-million)

Dividend: $1.50 (=6.00%) until first Reset Date; GOC 5-Year + 379bp thereafter. First dividend $0.54658 payable Sept 30 – nice and fat, so mark your calendars!

Exchangeable: Every Reset Date into Series 7QR (sic), pays 3-month bills +379, reset quarterly

Redemption: Every Reset Date at $25.00. Series 7QR every reset date at 25.00, 25.50 at all other times.

Reset Date: 2014-6-30 and every five years thereafter.

Closing: 2009-5-20

Update: Press Release

One Response to “New Issue: SLF FixedReset 6.00%+379”

  1. […] the 6.00%+379 FixedReset announced on May 8 settled […]

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